Systemiq Capital has announced the first close of its latest climate tech fund, which will invest in early-stage climate innovation companies after raising $70m of a total fundraising target of $200m. Systemiq Capital was founded this year by environmental think-tank Systemiq, former CEO of Unilever Paul Polman, and Systemiq partners Jeremy Oppenheim and Irena Spazzapan. 

Fund II will invest in around 25 companies across Europe and North America, focusing on businesses with the potential to drive systemic change in the four areas of sustainable food and materials, clean transportation, climate intelligence and finance, and climate restoration.